IPO Strips Huami Of Its Unicorn Status; More Unicorn Downgrades To Come?

Huami Corporation, a Chinese manufacturer of low-cost wearable devices backed by smartphone maker Xiaomi, raised a smaller-than-expected US$110 million in a public float on the New York Stock Exchange today. The offering, which was less than the hoped for US$150 million, gives Huami a market valuation of US$690 million, much lower than its previously rumored US$1 billion price tag.

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Nina Xiang
Nina Xiang is the co-founder and managing editor overseeing editorial content and product development at CMN. Before founding CMN in 2011, Nina worked at BusinessWeek magazine in Beijing and Institutional Investor magazine in New York, writing about business and financial services. While in New York, she also served as part-time correspondent for Shanghai's financial television channel, China Business Network, as well as China Radio International, China's national English-language radio network.

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